Use CSR funds for public health, says Planning Commission

NEW DELHI: The Planning Commission is pitching for earmarking a part of the proposed 2 per cent corporate social responsibility (CSR) allocation by companies for funding public healthcare facilities, in a move that is aimed at making more resources available for the sector.

The Companies Bill, introduced in Parliament last year, had proposed that companies with a turnover of Rs 1,000 crore, net profit of Rs 5 crore or a net worth of Rs 500 crore mandatorily spend 2 per cent of their profits on CSR, while leaving it to companies to decide where to spend the funds.

The 12th plan document states that once the bill is passed, all publicly-funded healthcare facilities would be allowed to receive donations and funding from companies under the CSR head.